NOIDA: A Noida-based company, which allegedly used unlawful Ponzi schemes to raise finances for motorbike taxis and used the names of aggregators Uber and Ola to make their declare look credible, is facing a police investigation after being accused of cheating hundreds of buyers.
The buyers have alleged that Mapple Innovative Promoters (MIP) Private Limited presented them 5 other plans under schemes with other programs and promised per thirty days returns, all after an annual one-time funding. The more the funding, more returns had been promised, along with bonus. The company had 12,000 buyers, maximum of them from UP, Haryana, different portions of NCR, and Punjab.
On Wednesday, several buyers protested against the corporate, alleging it had no longer paid them since December 2018. The protesters gathered around the company’s office in B block of Sector 58, tough officers meet them and surrender their cash. They had been, however, allegedly greeted via bouncers with whom they got into a controversy.
The protestors filed a written criticism against the corporate’s managing directors, Rajesh Khantwal and Kapil Dhama, director Nitin Tyagi, CEO Sachin Raghuvanshi and executives Shubham Chaudhary, Sandeep Yadav, Pramod Kushwaha and Ajay Pandey, alleging fraud. Khantwal and Tyagi’s telephones had been switched off when IdealNews attempted to contact them. Dhama informed IdealNews he too used to be yet to get returns from the corporate. “I'm really not the managing director. Even I have to get my returns,” he claimed.
Piyush Singh, circle officer II informed IdealNews the criticism has been gained and a report has been shared with Noida police leader. “An FIR will likely be lodged, as consistent with the direction,” he stated. SSP Vaibhav Krishna stated prima facie, allegations against the corporate seemed true and an FIR can be lodged under Section 420 (cheating) after investigation. “The case has been referred to the Noida economic offences (NEO) wing,” he stated.
Protesters alleged 12,000 other people deposited quantities starting from Rs 62,100 with the company that promised to buy bikes on their behalf and assist them sign up with the delivery office. The bikes had been to run in NCR and portions of UP. The cash earned used to be for use to pay buyers as returns.
Ravi, an investor, stated whilst the initial deposit used to be for booking a bike, buyers had been promised Rs 10,100 as per thirty days go back on that. “There had been other plans depending on the choice of bikes purchased. A fundamental plan of Rs 62,100 for one motorbike and Rs 1,24,200 for 2 bikes with promised per thirty days returns of Rs 10,100 and Rs 20,200, respectively. The different plans for purchase of more than two bikes promised bonus, along with the per thirty days returns,” he stated.
Protesters alleged that whilst the corporate paid them for a couple of months, the bills stopped from December. Trilok Singh, an investor who came from Aligarh, stated he had invested in three bikes and got his relations taken with some plans.
Ravi stated whilst the corporate were claiming since June that it used to be in the process of buying the bikes, it by no means did so. “Four bikes had been stored as samples however they by no means took to the roads. Officials had also explained their income style to buyers, claiming the bikes can be connected with Ola and Uber. Agents attracted possible objectives into making an investment,” he stated, including as many as 80 buyers had been connected to him currently. Most buyers claimed they had been presented to the scheme via brokers founded in Noida.
Ashraf Khan, any other investor, stated the corporate later scrapped the plans and used to be merged with any other company referred to as NRV E-commerce Pvt Ltd and new plans had been floated. “The new Rs 12,500 plan promised Rs 1,000 per thirty days go back, along with a 39-product equipment. Another scheme used to be about giving air purifiers on hire, for which Rs 5,500 used to be promised a month. Then, any other e-rickshaw plan used to be brought out price Rs 1,20,000 and buyers had been promised Rs 17,000 a month. We got payment only for 15 days,” an investor stated.
The protesters alleged that since January, that they had been asking for the corporate to clear dues however to no avail. “In February, they claimed the returns will likely be paid in cheques and some buyers got cheques that bounced. They claimed money can be paid after Holi however that by no means came about,” Ravi stated.
Police detained three of the bouncers on Wednesday.
The buyers have alleged that Mapple Innovative Promoters (MIP) Private Limited presented them 5 other plans under schemes with other programs and promised per thirty days returns, all after an annual one-time funding. The more the funding, more returns had been promised, along with bonus. The company had 12,000 buyers, maximum of them from UP, Haryana, different portions of NCR, and Punjab.
On Wednesday, several buyers protested against the corporate, alleging it had no longer paid them since December 2018. The protesters gathered around the company’s office in B block of Sector 58, tough officers meet them and surrender their cash. They had been, however, allegedly greeted via bouncers with whom they got into a controversy.
The protestors filed a written criticism against the corporate’s managing directors, Rajesh Khantwal and Kapil Dhama, director Nitin Tyagi, CEO Sachin Raghuvanshi and executives Shubham Chaudhary, Sandeep Yadav, Pramod Kushwaha and Ajay Pandey, alleging fraud. Khantwal and Tyagi’s telephones had been switched off when IdealNews attempted to contact them. Dhama informed IdealNews he too used to be yet to get returns from the corporate. “I'm really not the managing director. Even I have to get my returns,” he claimed.
Piyush Singh, circle officer II informed IdealNews the criticism has been gained and a report has been shared with Noida police leader. “An FIR will likely be lodged, as consistent with the direction,” he stated. SSP Vaibhav Krishna stated prima facie, allegations against the corporate seemed true and an FIR can be lodged under Section 420 (cheating) after investigation. “The case has been referred to the Noida economic offences (NEO) wing,” he stated.
Protesters alleged 12,000 other people deposited quantities starting from Rs 62,100 with the company that promised to buy bikes on their behalf and assist them sign up with the delivery office. The bikes had been to run in NCR and portions of UP. The cash earned used to be for use to pay buyers as returns.
Ravi, an investor, stated whilst the initial deposit used to be for booking a bike, buyers had been promised Rs 10,100 as per thirty days go back on that. “There had been other plans depending on the choice of bikes purchased. A fundamental plan of Rs 62,100 for one motorbike and Rs 1,24,200 for 2 bikes with promised per thirty days returns of Rs 10,100 and Rs 20,200, respectively. The different plans for purchase of more than two bikes promised bonus, along with the per thirty days returns,” he stated.
Protesters alleged that whilst the corporate paid them for a couple of months, the bills stopped from December. Trilok Singh, an investor who came from Aligarh, stated he had invested in three bikes and got his relations taken with some plans.
Ravi stated whilst the corporate were claiming since June that it used to be in the process of buying the bikes, it by no means did so. “Four bikes had been stored as samples however they by no means took to the roads. Officials had also explained their income style to buyers, claiming the bikes can be connected with Ola and Uber. Agents attracted possible objectives into making an investment,” he stated, including as many as 80 buyers had been connected to him currently. Most buyers claimed they had been presented to the scheme via brokers founded in Noida.
Ashraf Khan, any other investor, stated the corporate later scrapped the plans and used to be merged with any other company referred to as NRV E-commerce Pvt Ltd and new plans had been floated. “The new Rs 12,500 plan promised Rs 1,000 per thirty days go back, along with a 39-product equipment. Another scheme used to be about giving air purifiers on hire, for which Rs 5,500 used to be promised a month. Then, any other e-rickshaw plan used to be brought out price Rs 1,20,000 and buyers had been promised Rs 17,000 a month. We got payment only for 15 days,” an investor stated.
The protesters alleged that since January, that they had been asking for the corporate to clear dues however to no avail. “In February, they claimed the returns will likely be paid in cheques and some buyers got cheques that bounced. They claimed money can be paid after Holi however that by no means came about,” Ravi stated.
Police detained three of the bouncers on Wednesday.
Over 12,000 duped with Ponzi bike taxi scheme
![Over 12,000 duped with Ponzi bike taxi scheme]()
Reviewed by Kailash
on
March 28, 2019
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